Oil prices tumble as stocks rally following Trump’s agreement on a two-week ceasefire
Photo Credit: Reuters Oil prices plunged, bonds rallied and global equities surged on Wednesday after a two-week ceasefire in the Middle East triggered a wave of relief across financial markets,…
Rising Oil Prices Could Impact Struggling Fuel Fund
Increased tensions between Israel and Iran are anticipated to push global crude oil prices higher, which could jeopardize the debt repayment strategy of the Oil Fuel Fund Office (Offo), according…
OPEC+ Postpones Production Increase After Oil Prices Decline.
The average price of ICE Brent crude oil during the third quarter of 2024 (from July 1 to September 9) was $80.4 per barrel, a decrease from $84.9 per barrel…
Saudi’s need higher oil prices to balance the budget
Fitch Ratings has affirmed Saudi Arabia’s credit rating at the fifth-highest investment grade, but warns about the country’s heavy reliance on oil revenues. According to Fitch, the Saudi government needs…
OPEC+ producers reveal unexpected reduction
As OPEC+ producers abruptly announced they would restrict output, oil prices jumped on Monday.